Bitzero announces North Dakota as site of company’s North American headquarters

Bitzero announces North American headquarters in North Dakota.
Bitzero announces North American headquarters in North Dakota.(Valley News Live)
Published: Jun. 2, 2022 at 10:20 AM CDT
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FARGO, N.D. (Valley News Live) - Bitzero officials announced North Dakota as the company’s headquarters and hub for all North American operations.

They say North Dakota emerged as the logical choice due to alignment on the state’s goal of being carbon neutral by 2030, its robust energy industry, favorable tax and regulatory environment, and access to top-tier engineering and software talent for the commercialization of new intellectual property in the data center space.

“Bitzero’s decision to locate its North American headquarters in North Dakota is yet another example of how our state is emerging as the location of choice for clean energy data centers supported by reliable, affordable electricity produced with environmental stewardship,” Governor Doug Burgum said. “This growing industry will continue to diversify our economy and elevate North Dakota’s status as the place to do business for tech entrepreneurs and innovators.”

Bitzero CEO Akbar Shamji said they are planning to build 200 megawatts of data centers in North Dakota in the next two to three years. The data centers come with an investment of $400 million to $500 million.

In addition, the company is involved in a joint venture for graphene battery technology that plans to bring an assembly and distribution hub to North Dakota, representing a $200 million to $500 million investment in the next two to three years, he said. The headquarters will employ 15 to 20 people to drive operations in the state.

To date, Bitzero has raised close to $100 million in investment capital and plans to have an initial public offering on the Canadian stock exchange within the next 60 days and subsequently be listed on the Nasdaq once regulatory approval is passed, company officials said.

“Solidifying a North American headquarters prior to the IPO was a crucial strategic piece for Bitzero, and we plan to begin consolidating operations to North Dakota as we scale,” said Bitzero Strategic Investor Kevin O’Leary.

In addition, Bitzero will partner with Mandan, Hidatsa and Arikara (MHA) Nation for the purchase of power from Bitzero’s proposed data center for the MHA Nation’s greenhouse project.

“Bitzero is working with us to use our Western Area Power Administration hydroelectric power to reflect the company’s zero carbon mandate,” MHA Chairman Mark Fox said. “The additional heat produced from the data center facility will be used for our MHA Nation’s Greenhouse Project currently under construction.”

Bitzero is in multiple discussions for other projects that are expected to come to fruition over the next few months, which will include wind and solar projects.

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